Find out more about Papaya Global Payroll App Download ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This provides us with a safe and trusted method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Staff member Portal provides workers with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to worldwide workers despite the variety of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every country, create local accounts and have a minimum number of staff members.
The HR capabilities provided by Worldwide HR incorporate numerous functions such as keeping an eye on holiday time, making sure compliance, facilitating the procedure of welcoming new employees and bidding farewell to leaving ones, providing a safe online platform for keeping employees' files, and offering assistance for work permit treatments in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work costs distributed per place, overall employment costs per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Enterprise clients and services along with serving as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've kind of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business preserve separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to optimize working capital, and find how enhancing international payroll payments can change them from a troublesome task into a tactical possession.
Managing payroll internationally is a daunting task due to various regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of combination, leading to inconsistencies and inadequacies. In spite of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to provide insights and services to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide services have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes poorly interacted hires and terminations in addition to absence management and system setups and then when you round everything off and the information is shipped to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good concern I constantly throw this back and say what is it what does not need to be included best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to kind of move forward with that it also also to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is absolutely necessary that payroll and financing teams work better together than ever um I'm always amazed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the compensation landscape is becoming increasingly complex. Organizations are constantly presenting brand-new advantages and payment options, which adds to the total intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not need to be the case. In today's technologically advanced age, there's no reason for preserving cumbersome treatments. Payroll, the company's biggest cost, must be processed correctly and on time. Even slight delays can negatively impact staff members' well-being and have far-reaching repercussions. Therefore, it's important to focus on precise and prompt payments.
payroll team get um so I'm uncertain anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the first International Payments very first payroll payment option is a great first step um offering an end-to-end payroll option for your employees globally once again I think is another big um process again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyway we know how how essential a function it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and type of try to get back to everybody so proceeding look why do companies select to primary separate checking account there are organizations out there doing precisely this for particular nations and I have actually operated in a business or lots of services doing precisely that I can state it does not constantly feel effective and it does create more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I believe people have got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a process that requires looking at it needs changing but eventually individuals are very stuck with what they recognize
with ideal um change is a hard thing all of us do not like modification um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping numerous checking account but there's a substantial quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is substantial however I believe the sincere response is modification um people haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or two there is a lot to monitor and this method does posture a number of difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you should have a corner office with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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